Form DTE140M-W5 "Worksheet to Calculate Tax Rate for Form Dte 140m When a Taxing Authority Certifies an Amount of Revenue and Requests a Rate for All School Substitute Levies" - Ohio

What Is Form DTE140M-W5?

This is a legal form that was released by the Ohio Department of Taxation - a government authority operating within Ohio. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • Released on August 1, 2008;
  • The latest edition provided by the Ohio Department of Taxation;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a fillable version of Form DTE140M-W5 by clicking the link below or browse more documents and templates provided by the Ohio Department of Taxation.

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Download Form DTE140M-W5 "Worksheet to Calculate Tax Rate for Form Dte 140m When a Taxing Authority Certifies an Amount of Revenue and Requests a Rate for All School Substitute Levies" - Ohio

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DTE 140M-W5
Rev. 8/08
O.R.C. §5705.03(B)
Worksheet to Calculate Tax Rate for Form DTE 140M
When a Taxing Authority Certifies an Amount of Revenue and Requests
a Rate for All School Substitute Levies
Calculation of Millage Rate
1. Tax valuation on the tax list most recently certified for collection:
1a. Class I Real – Res/Ag
$ _____________
1b. Class II Real – Other
$ _____________
1c. Public Utility Personal
$ _____________
1d. General Personal
$ _____________
2. Total Valuation
$ _____________
3. Revenue Requested
$ _____________
4. Personal Property Phase-out Reimbursement Payment
$ _____________
5. Revenue to be Charged as Tax
$ _____________
6. Millage Rate
______ . _____
Instructions
Line 1a. Enter tax valuation of all class I real property (residential and agricultural property) as indicated on the tax
list most recently certified for collection.
Line 1b. Enter tax valuation of all class II real property (all other real property) as indicated on the tax list most
recently certified for collection.
Line 1c. Enter the estimated valuation of public utility personal property for the first year the substitute levy will
be charged. To determine the correct public utility valuation, please refer to the values in the school district
spreadsheet available at:
www.tax.ohio.gov/channels/government/services_for_local_govts.stm
Note: public utility personal property taxes are assessed at the same time as real property taxes. Beginning in
2007 telecommunications property will be taxed as general business personal property. The public utility values
in the spreadsheets reflect the shift of telecommunications property to general business property.
Line 1d. Enter the estimated valuation of all general personal property for the first year the substitute levy will be
charged. Note: if the first year for which the levy will be assessed against real property is tax year 2008, then the
first tax year that levy will be assessed against personal property will be 2009. Since telecommunications
companies are the only general businesses that are still liable for the personal property tax, and then only for tax
years 2009 and 2010, only the estimated values of telecommunications property should be used to compute this
average. No entries should be made on this line for levies that will first be effective for real property for tax year
2010 or thereafter.
Line 2. Add lines 1a through 1d and place total here.
Reset Form
DTE 140M-W5
Rev. 8/08
O.R.C. §5705.03(B)
Worksheet to Calculate Tax Rate for Form DTE 140M
When a Taxing Authority Certifies an Amount of Revenue and Requests
a Rate for All School Substitute Levies
Calculation of Millage Rate
1. Tax valuation on the tax list most recently certified for collection:
1a. Class I Real – Res/Ag
$ _____________
1b. Class II Real – Other
$ _____________
1c. Public Utility Personal
$ _____________
1d. General Personal
$ _____________
2. Total Valuation
$ _____________
3. Revenue Requested
$ _____________
4. Personal Property Phase-out Reimbursement Payment
$ _____________
5. Revenue to be Charged as Tax
$ _____________
6. Millage Rate
______ . _____
Instructions
Line 1a. Enter tax valuation of all class I real property (residential and agricultural property) as indicated on the tax
list most recently certified for collection.
Line 1b. Enter tax valuation of all class II real property (all other real property) as indicated on the tax list most
recently certified for collection.
Line 1c. Enter the estimated valuation of public utility personal property for the first year the substitute levy will
be charged. To determine the correct public utility valuation, please refer to the values in the school district
spreadsheet available at:
www.tax.ohio.gov/channels/government/services_for_local_govts.stm
Note: public utility personal property taxes are assessed at the same time as real property taxes. Beginning in
2007 telecommunications property will be taxed as general business personal property. The public utility values
in the spreadsheets reflect the shift of telecommunications property to general business property.
Line 1d. Enter the estimated valuation of all general personal property for the first year the substitute levy will be
charged. Note: if the first year for which the levy will be assessed against real property is tax year 2008, then the
first tax year that levy will be assessed against personal property will be 2009. Since telecommunications
companies are the only general businesses that are still liable for the personal property tax, and then only for tax
years 2009 and 2010, only the estimated values of telecommunications property should be used to compute this
average. No entries should be made on this line for levies that will first be effective for real property for tax year
2010 or thereafter.
Line 2. Add lines 1a through 1d and place total here.
--
DTE 140M-W5
Rev. 7/08
O.R.C. §5705.03(B)
Page 2
Line 3. Enter the requested revenue certified to the county auditor by the subdivision.
Line 4. Enter the amount of the reimbursement payment (if any) the subdivision will receive for the substitution of
a qualified emergency levy for the first general personal property tax year the proposed levy would be in effect.
Substituted emergency levies will qualify for reimbursement payments if the levies for which they are substituted
are eligible for reimbursement. For personal property tax years 2009 and 2010 (corresponding to real property tax
years 2008 and 2009), eligible emergency levies will receive full reimbursement even if only a portion of the levy
is substituted and remainder of the levy is allowed to lapse. For personal property tax years 2011-2017 (corresponding
to real property tax years 2010-2016), substituted emergency levies will continue to receive a reimbursement
payment if the original levy qualified for reimbursement (i.e., it is listed on the Department of Taxation’s Web site),
and the substituted levy generates at least the same amount of annual revenue as the original qualifying emergency
levy. In other words, if only a portion of the original levy is substituted, the remainder of the levy will have to
continue to be levied in order to receive the reimbursement payment through 2017.
Line 5. Subtract the amount on line 4 from the amount on line 3 and enter the difference here. This is the amount
that will be collected as taxes.
Line 6. Divide line 5 by line 2 and multiply be 1,000 to get the tax rate in mills. Place this rate on the line provided
in Item 2 on form DTE 140M.
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